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Against the backdrop of the current political developments in Central and Eastern European (CEE) countries, such as Ukraine, Poland, and Romania, the question arises as to the role played by economic transformation and the resulting innovation linkages in these countries over the last 20 years. The main purpose of this paper is to explore the impact of economic and institutional dimensions on the development of CEE countries, explicitly distinguishing between European Union (EU) members and non‐members, and thus reflecting the differences in institutions and path dependency. Furthermore, the paper contrasts the performance of CEE countries with that of Western European countries. To achieve these objectives, the impact of factors such as innovation, institutions, and political practices on the economic development of 37 European countries from 2000 until 2020 is followed using fixed effects regression and Ordinary least squares (OLS) regression. The results of the analysis show the importance of institutional factors such as low levels of corruption, political freedoms, and intellectual property. The effect of institutional variables was particularly pronounced in the case of non‐EU countries, which indicates the particular importance of the development of stable institutions for achieving higher levels of economic development for this category of countries. [ABSTRACT FROM AUTHOR]

This paper examines the four‐way linkages between innovation, trade openness, financial development and economic growth using panel‐VAR approach for 11 European countries over the period 2001‐2016. Most importantly, the findings revealed that there is a unidirectional relationship between economic growth and financial development, between trade and economic growth and between innovation and financial development. The findings also revealed a negative relationship between innovation and economic growth and between trade and economic growth. The paper concludes that further regulation of financial systems and the quality of funding are important ingredients to foster economic development. The paper also concludes that country‐specific characteristics can play an important role in fostering innovation and productivity. Furthermore, policymakers should improve institutional quality and improve the regulatory environment in order to benefit more from trade openness. Also, policy makers need to use innovation incentives for local companies in order to counteract the negative effects induced by market opening. [ABSTRACT FROM AUTHOR]

This paper studies the dynamics of unemployment (u) and its natural rate (u*), with u* measured by real‐time estimates for 29 countries from the Organization for Economic Cooperation and Development. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same direction, and therefore has permanent effects. For our baseline specification, a one‐percentage‐point deviation of u from u* for 1 year has a long‐run effect of 0.16 points on both variables. When we allow asymmetry, we find, perhaps surprisingly, that decreases in u have larger long‐run effects than increases in u. [ABSTRACT FROM AUTHOR]

What accounts for the common perception that women have contributed little to advances in entrepreneurship and innovation in Britain during the early industrial era? This paper empirically examines the role of gender diversity in inventive activity during the first and second industrial revolutions. The analysis of systematic data on patents and unpatentable innovations uniquely enables an evaluation of women's creativity within both the market and nonmarket sectors. British women inventors were significantly more likely than men to focus on unpatentable innovations in consumer final goods and design‐oriented products that spanned art and technology, and on uncommercialized improvements within the household. Conventional approaches that fail to account for nonmarket activity and for such incremental changes in consumer goods and design innovations therefore significantly underestimate women's contributions to household welfare and overall economic progress. [ABSTRACT FROM AUTHOR]

China's environmental governance exhibits a significant imbalance with its economic development. To enhance the "green" and sustainable practices of enterprises, employing environmental, social, and governance (ESG) principles is imperative. The literature examining the correlation between ESG and green innovation (GI) lacks detailed clarity and obscures the different effects of each dimension. Inefficient resource allocation may also result from ignoring the distinct implementation costs associated with each dimension of ESG. Such problems eventually hinder the guidance of corporate practices. Therefore, the promoting or inhibiting effects stemming from each of these dimensions warrant further study. In this paper, we use data from A‐share listed companies in China for the years 2004 to 2020 to investigate the mechanism that links the E, S, and G dimensions of ESG with GI from an externality perspective. We prove a linear or U‐shaped relationship between the E or S dimension and GI, and we explore the mediating effect of financing constraints on these relationships. We compare these dimensions under a unified theoretical framework to clarify their differences in externality and internality. This study's results highlight the importance for enterprises to emphasise environmental issues and social recognition, instead of just corporate operations, to achieve sustainable development. [ABSTRACT FROM AUTHOR]

A high‐quality green transition is essential to achieving sustainable and coordinated global development. In this paper, a new method of two‐step geometric average is proposed to measure green transition, and a comprehensive framework on the relationship between sustainability and coordination via the propelling force of green transition is constructed at both the national and provincial levels. In addition, the mediating effect model and the threshold model are employed to empirically verify the mechanisms and influences. According to the results, green transition can contribute to regional economic growth at national level and to the coordinated development of regional economies at provincial level in China. Meanwhile, the non‐linear 'U‐shaped' relationships between green transition and regional economy are demonstrated in Asia and the eastern region of China, and spillover effect of technological innovation can indirectly promote regional development. In addition, the heterogeneity effect of green transition fully releases the dividend of economic quality and environmental governance capacity, promoting the coordinated development of regional economies. In the meantime, the driving force of green transition on regional economy is dependent on the external environment, particularly before and after the outbreak of COVID‐19, when its impact has altered substantially. Therefore, it is necessary to promote green transition via greater technological innovation efficiency, and then to restore the vitality of regional economic development; which could provide policy makers and professionals in the regional economy with information for enhancing sustainable and coordinated development. [ABSTRACT FROM AUTHOR]

China's extensive economic growth has been accompanied with high levels of pollution, and excessive energy consumption has brought serious pollution problems. The use of financial resources to regulate green production modes and encourage high‐quality economic development has become a major focus in academia. At the same time, growth enterprise market (GEM) enterprises, which mainly operate in technology‐intensive industries, are assumed to have a simulating effect on regional innovation. Therefore, this paper utilizes the capital return differences of 4437 listed companies and 920 GEM companies based in 30 provinces of China from 2008 to 2018 to quantitatively analyze the levels of financial misallocation. With two‐stage regression method, the direct effect of financial misallocation on regional green total factor energy efficiency (GTFEE) and the indirect impact observed when taking regional innovation as an intermediary variable are discussed. Furthermore, dynamic threshold panel regression and heterogeneity analysis are used to verify the above nonlinear relationship. The empirical findings indicate that financial misallocation enhances innovation capability and further restrains GTFEE. With an improved degree of marketization and environmental regulation, the inhibitory effect of financial misallocation on GTFEE is more significant. [ABSTRACT FROM AUTHOR]

The role of financial inclusion along with environment related technological innovation has been ignored by previous studies, especially, in terms of tradeadjusted carbon emissions. Unlike previous studies, this study aims to test the role of financial inclusion and eco-innovation on trade-adjusted carbon emissions or consumption-based carbon emissions for a group of seven economies over the period 2004-2019. Further, this study also tests the role of exports, imports and gross domestic product. We develop an index using principal component analysis to measure financial inclusion. The study utilizes the novel method of moment quantile regression to obtain the results. The results indicate that eco-innovation reduces consumption-based carbon emissions at 25th, 50th, 75th, and 90th quantiles, respectively. Moreover, financial inclusion and exports also reduce emissions at 25th, 50th, 75th, and 90th quantiles. In contrast, gross domestic product and imports cause trade-adjusted emissions to increase. Moreover, a bidirectional link is established between all variables except for financial inclusion. Finally, this study provides relevant policy implications for trade, eco-innovation, and financial inclusion in the group of seven economies for sustainable trade development. This paper further provide relevant environmental policy implications. [ABSTRACT FROM AUTHOR]

African countries face an economic transformation gap. Given the large and growing Chinese presence on the African continent, a fundamental question is whether Chinese firms contribute to, or hinder, economic transformation in Africa. This article conducts a scoping review of over one hundred sources, examining the pathways through which Chinese firms can affect economic transformation. On balance, the literature points to a positive role of Chinese firms. Africa–China trade leads to mixed results, while Chinese investment and infrastructure construction are found to contribute positively to transformation. Chinese firms are also found to support capacity building, spillovers and innovation in African countries. [ABSTRACT FROM AUTHOR]

As past economic progress has come at the expense of diminishing natural resources, increasing pollution and widespread damage to ecosystems around the world, an imperative we must respond to is to seek ways in which to achieve economic, social, and environmental sustainability, including actions aimed at a circular economy and eco‐innovation. Recycling has numerous implications for the environment, economic and production performance, employment, and production of wealth. The environmental regulator must therefore consider all the aspects of the waste cycle when deciding the right policies to maximize social welfare. We consider three types of agents involved in a Stackelberg game: manufacturers, importers and sellers (MIS), recyclers, and the government acting as an Environmental Protection Agency (EPA). In our model, we introduce the cost to adopt new technology for eco‐innovation per unit produced by the MIS, resulting in the possibility to reduce the weight of the advanced recycling fees if they invest more in the aptitude to be recycled of their products. The results give interesting prompts to investigate the relationship between environmental taxation and ecological incentives. [ABSTRACT FROM AUTHOR]

Thermal power is the main source of China's electricity supply. Improving total‐factor generation performance (TFGP) is essential for the development of this industry in the current deteriorating operating environment. This study adopts the meta‐frontier nonradial direction distance function approach to measure the static and dynamic TFGPs of the thermal power industry in China's 30 provinces in 2011–2019, and then discusses the regional distribution characteristics and the impact factors using spatial econometric model and Tobit regression method, respectively. Empirical results show that: (I) The TFGPs in central and west China are relatively close, but both are remarkably lower than that in east China. (II) The TFGPs in central and west China have generally remained stable since 2011, whereas that in west China has declined mainly because this region is more susceptible to the situation of electricity supply‐demand. (III) A significant spatial positive correlation exists among provincial TFGPs. High TFGP provinces are mostly in the eastern seaboard region and low TFGP provinces are in southwest China. (IV) Economic development, power structure, fuel prices, and environmental regulation have positive impacts on China's TFGP, while the impacts of technological innovation and energy endowment are not significant. [ABSTRACT FROM AUTHOR]

R&D subsidisation is acknowledged as a major spurrer of the economic development of regions, but is seldom considered in the literature concerning regional diversification. Conversely, robust evidence has been gathered about the impact of relatedness on the ability of regions to explore new technological domains. The work employs patent data to assess the extent to which related and unrelated diversification processes in the United States, between 1981 and 2010, are influenced by the existing regional knowledge base and the magnitude of R&D public funds, providing evidence for both drivers by means of econometric estimations. [ABSTRACT FROM AUTHOR]

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Research Summary: Our study provides novel insights into how women influence SME innovation in emerging markets, despite the resource‐constrained and gender‐restrictive contexts in which they are embedded. Building from transactive memory (TM) theory and using data from 741 SMEs in 33 emerging markets, we develop and test a contextualized framework of SME innovation that considers gendered effects in ownership, workforce composition, and communication. Findings indicate that in emerging markets, female‐led SMEs employ more women than male‐led SMEs, and more women in SMEs (even at modest levels) enhance and enable the TM system to deliver more innovation outcomes. Findings also suggest that emerging‐market SMEs can be innovative through differing configurations of women in ownership and workforce composition, underscoring the importance of gendered and contextual considerations in innovation research. Managerial Summary: Innovation is vital to the social progress and economic development of emerging markets. Even though institutionalized gender bias in emerging markets tends to constrain (rather than empower) women's entrepreneurial activities, our study reveals how women can be an important source of innovation. We find that women in emerging markets are stronger together: women in ownership advocate for and support other women by employing them in their SMEs, and in turn, as women's representation increases in SMEs, women are empowered to collectively share and leverage their endowed resources for innovation. Thus, our study challenges the general perception that men are more innovative than women by revealing that the presence of women in emerging‐market SMEs yields greater innovation outcomes. [ABSTRACT FROM AUTHOR]